MakeMyTrip Announces Acquisition of Effective Majority Equity 'ITC Group' of Companies
On November 26, 2012, MakeMyTrip Limited (NASDAQ: MMYT) issued a press release announcing its acquisition of an effective majority equity interest in a group of companies known as the “ITC Group” (comprising of International Tour Center Co. Ltd., ITC Bangkok Co. Ltd. and ITC South Co. Ltd.) for an aggregate consideration of (i) USD 2.2 million for the purchase of shares from the existing shareholders of the ITC Group, and (ii) USD 1 million for the subscription of new shares of the ITC Group. A copy of the press release dated November 26, 2012 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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